FINANCIAL ADMINISTRATION ACTReceipt and Deposit of Public Money Regulations, 1997T.B.825983-219982
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The Treasury Board, pursuant to section 17a of the Financial Administration Act, hereby makes the annexed Receipt and Deposit of Public Money Regulations, 1997.S.C. 1991, c. 24InterpretationThe definitions in this section apply in these Regulations.Act means the Financial Administration Act. (Loi)financial institution[Repealed, SOR/2008-44, s. 1]SOR/2008-44, s. 1Record of Receipts and DepositsEvery person who collects or receives public money shallrecord the following information in a register kept for that purpose:the date of every receipt and deposit,the amounts received, deposited or withheld, andall other information required for identification or audit purposes; andon request, or if directed to do so by the appropriate Minister, issue a receipt or acknowledgment for any public money collected or received.Crediting the Receiver GeneralPublic money must be paid to the credit of the Receiver General by depositing it in an account established under subsection 17(2) of the Actwithout delay, if the money is collected or received electronically; oronce a day, if the money is received by other than electronic means, or, if it is not cost effective to do so,once a week, orin exceptional circumstances and if authorized by the Receiver General, once a month.SOR/2008-44, s. 2Despite section 3, the portion of the following money that is public money and is collected or received electronically by a service provider must be paid to the credit of the Receiver General by depositing it, within two business days after the day of collection or receipt, in an account established under subsection 17(2) of the Act:money collected or received as repayment of financial assistance as defined in subsection 2(1) of the Canada Student Financial Assistance Regulations, as repayment of a guaranteed student loan as defined in subsection 2(1) of the Canada Student Loans Act or as payment of interest owing on that assistance or loan; orinterest received by the service provider on the money referred to in paragraph (a).The following definitions apply in this section:business day means a day other than a Saturday or a holiday. (jour ouvrable)service provider means a corporation that has entered into an agreement under subsection 6.2(1) of the Canada Student Financial Assistance Act. (fournisseur de services)This section expires on March 31, 2018.SOR/2008-44, s. 3Chargeback and Withholding of Public MoneyAny person referred to in paragraph 17(5)(b) of the Act may, if an instruction for payment has been dishonoured after having been credited to the Receiver General, charge the amount of the instruction for payment back to the Receiver Generalby debiting the account into which the instruction for payment was originally credited to the Receiver General with that amount; andproviding the Receiver General with confirmation of the amount that is charged back.The Receiver General shall inform the appropriate minister of any amounts charged back under subsection (1).Every person who collects or receives public money is authorized to withhold their fees or commissions from payments of that money to the credit of the Receiver General if the fees or commissions are determined in accordance withan enactment, as defined in the Interpretation Act; ora contractual arrangement entered into by Her Majesty and that person and are in the form ofa lump sum,a percentage of each amount collected or received, ora flat-rate amount for each amount collected or received.Repeal[Repeal]Coming into ForceThese Regulations come into force on February 23, 1998.